Student Loan Report: Best Colleges for Federal Work Study Employment
The average college student leaves school with a hefty total of $28,000 in student loan debt. When looking at the big picture, student loan debt appears even more harrowing. As of now, a grand total of 43.3 million college students borrow either private or federal student loans, and the combined total of outstanding student loan debt exceeds $1.3 trillion.
It is no secret that student loan debt is an issue, and anyone who reads about the topic can most likely quote each of the statistics mentioned above. The numbers seem to rise each year. Long story short, unpaid student loan debt is a big problem for the federal government and the average college student.
Following the student loan trend, college tuition rises every year. Factoring in the overall cost of attendance, the cost of higher education is clearly an obstacle for the majority of prospective college students. When considering the demand for college education and rising tuition, it is easy to see how the increasing necessity for student loans exacerbates the overall student loan debt issue.
In order to help college students pay for tuition and overall cost of attendance, the Federal Work Study program was formed. This program provides part-time jobs at participating universities for students in need of financial aid. The money earned by students is meant to go towards college tuition and cost of attendance. Full-time or part-time students are eligible for this program, and it is open to undergraduates, graduates, or professional students.
The Federal Work Study program has multiple benefits. First, it helps students pay for college themselves, so it lowers the need for student loans. Second, it teaches students the value of hard work which is an extremely important lesson.
Using 2016 data from thousands of four year colleges, a study was run on the top colleges and universities that offer Federal Work Study opportunities. Below is a list of the top 250 colleges that offer the most Federal Work Study program aid to its students. To be included in this list, a minimum of 100 jobs needed to be provided.
Putting the effort in during college can save years of toil with student loan debt after graduation. Hopefully, these results convey the power of working throughout college to pay for tuition.
Average Amount Earned – The average dollar amount earned per undergraduate enrolled in the Federal Work Study program at that respective school.
Number of Jobs – The number of students working under the Federal Work Study program at that respective school.